Tue.Mar 06, 2018

article thumbnail

Bankers Are Excited by Data Analytics (But Not Roboadvisors), Infosys Reports

Bank Innovation

Data analytics is the most common digital technology currently being used by banks, a new report by consultancy Infosys, released yesterday, stated. But how are banks really making use of the technology? Data analytics-- which is just what it sounds liker-- is currently being used by 73% of the 1,000 bankers surveyed for the study,Read More.

Analytics 270
article thumbnail

Things worth reading: 7th March 2018

Chris Skinner

Things we’re reading today include … Amazon could become the third-biggest US bank if it wants to: Bain study Elizabeth Warren attacks ‘dangerous, wrong’ bill to relax rules on US banks RBS agrees to pay $500m in New York mis-selling settlement Is this the future of money? City watchdog bans … The post Things worth reading: 7th March 2018 appeared first on Chris Skinner's blog.

New York 190
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Cryptocurrency Is an Asset Class, Chain CEO Adam Ludwin, says

Bank Innovation

EXCLUSIVE – Cryptocurrency is an asset class that enables a new kind of software, Adam Ludwin, co-founder and CEO of blockchain technology platform Chain said at the Bank Innovation 2018 conference in San Francisco. That software, according to Ludwin, enables decentralization. At Bank Innovation 2018 in San Francisco, Ludwin spoke on the topic. Even, bitcoin,Read More.

article thumbnail

Managed POS Encryption | Allows Merchants and Processors to Encrypt Credit, Debit and Other Card Transactions | Tokenization

Payments Dive

In partnership with VeriFone, TNS' Managed POS Encryption service is a fully managed solution for the transport of encrypted credit, debit and other card-based payment transactions. Download this product sheet for a quick overview of this secure and reliable payment networking solution.

article thumbnail

Digital Transformation: Accelerating ROI and Growth in Commercial Lending

Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

article thumbnail

Fintechs Are Driving Customer Expectations, but Banks Should be Wary of the ‘Hype Cycle’

Bank Innovation

EXCLUSIVE--Fintech startups are definitely driving change within the financial service industry--no surprise there--but more than providing some necessary technical upgrades, fintech has established such a place in the industry that is now driving what customers expect from their banks. This is according to Peggy Mangot, senior vice president, innovation, for Wells Fargo, who spoke on.Read More.

Fintech 186

More Trending

article thumbnail

Wealthy Entrepreneurs Turn To Pawn Shops To Start New Ventures

PYMNTS

Wealthy entrepreneurs are turning to an unexpected source to finance their new business ventures: pawn shops. According to news from CNBC on Monday (March 5), there has been an uptick in wealthy people pawning their valuables for collateral and quick small business loans. There are only a “handful” of companies enabling individuals to do this, reports said, largely because entrepreneurs are seeking much more than the average size of a loan from a pawn shop.

Virginia 142
article thumbnail

Laying the Groundwork for Growth

Gonzobanker

Despite a healthy economy, banks are closing branches at a record pace. According to a recent report from the Wall Street Journal, more than 1,700 branches closed in the last year. Data from the recent Cornerstone Performance Report for Banks supports this trend, with the average branch processing just three consumer loans per month. Can a bank making just three loans per month per branch justify the physical distribution of sales?

Strategy 103
article thumbnail

Applebee’s Hit With POS Data Breach

PYMNTS

After its point of sale (POS) systems were reportedly affected by malware designed to capture credit card information, RMH Franchise Holdings is warning that its Applebee’s restaurants in 15 states suffered a data breach. The company said all its 167 locations were impacted, Bank Info Security reported. “In addition to engaging third-party cybersecurity experts to assist with our investigation, RMH also notified law enforcement about the incident and will continue to cooperate in their inv

Data 141
article thumbnail

How to achieve friction-free digital finance

Bobsguide

Despite their many world-beating qualities and efficiencies, British businesses are still surprisingly poor at a very key business process: making sure they get paid – and pay who they owe. This is happening partly because too many business workflows are even today, still on paper, not.

How To 98
article thumbnail

The State of Automation in Financial Services 2024 Report

In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

article thumbnail

Prime Members In San Francisco And Atlanta Get Free Whole Foods Delivery

PYMNTS

Adding to the sundry benefits of Prime, Amazon is launching free two-hour delivery of Whole Foods groceries in Atlanta and San Francisco through Prime Now. The service launched last month in four cities, and the company plans to expand the service this year, the company said in an announcement. “We’re happy to bring our customers in San Francisco and Atlanta the convenience of free two-hour delivery through Prime Now and access to thousands of natural and organic groceries and locally sourced fa

article thumbnail

Cloud Adoption: A quiet revolution in financial services

Bobsguide

The global financial services industry is on the cusp of a massive technological disruption. The emergence of fintech (financial technology) and regtech (regulatory technology) vendors has created a tech race for banks, helping to fast-track the innovation path for many of them. Conversely, it.

article thumbnail

EU Proposed Law Aims To Make Friends With FinTech

PYMNTS

As the European Union (EU) prepares for the U.K.’s exit from the bloc next year, the EU’s executive is set to propose a draft law aimed at boosting the FinTech market throughout the region. According to news from Reuters , a document by the European Commission revealed that the law would enable the FinTech sector to grow through crowdfunding and common blockchain technology standards.

Fintech 136
article thumbnail

New security risks call for automated dispute resolution

Payments Source

Manual means of dispute management are inefficient and growing untenable in the current security and compliance environment, writes Brad Johnson, director of solutions consulting at Centrix Solutions.

article thumbnail

Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

article thumbnail

Citigroup Eyes Creation Of National Digital Bank

PYMNTS

Citigroup is gearing up to launch a digital consumer bank that will be national in scope and will arrive within the next three years. Citing Citigroup Chief Financial Officer (CFO) John Gerspach, Reuters reported the executive said at an investor conference that the financial company is “laying the groundwork for having a national digital bank. I am not making an announcement right now, but I would be really disappointed if it was anything close to being three years away.”.

National 135
article thumbnail

03.06.18 Your morning briefing

Payments Source

The information you need to start your day, from PaymentsSource and around the Web. Today: PayPal files virtual currency payments patent; Manny Pacquiao gets his own cryptocurrency; Chip cards advance in Africa; U.S. Marshals auction seized bitcoin; Iceland investigates alternative currency mining theft.

Bitcoin 75
article thumbnail

TRENDING: When Brick & Mortar Goes Digital (In Store)

PYMNTS

Clothing companies can’t seem to please customers lately. Consumers are spending half as much as they once did and are sick and tired of retailers’ tired omnichannel offerings. But clothing companies aren’t alone in their struggles. Recently, retailers the world over have had to supercharge their stores, websites and mobile apps with features customers crave in order to compete in the omnichannel age.

Trends 127
article thumbnail

Image is everything: A case for reliable ATM antiskimming solutions

ATM Marketplace

An FI can spend millions to enhance its brand. So does it make sense that they should leave ATMs unprotected only to one day see a TV news reporter standing in front of their nicely branded ATM and talking about how many cards were compromised at this bank?

ATM 72
article thumbnail

Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

article thumbnail

ATM Debit Card Fraud Hit 10 Percent In 2017

PYMNTS

A new report has revealed that there was a 10 percent increase in the number of payment cards compromised at U.S. ATMs and merchants in 2017. “The number of compromises and the number of card members impacted set a new record last year,” said TJ Horan, vice president of fraud solutions at FICO. “While most devices are safe, fraudsters are developing new technology and methods for hacking ATMs.

ATM 126
article thumbnail

How 'cyborgs' can win at the fraud fight

Payments Source

Security risk management works best when artificial intelligence and humans work together, writes Suresh Dakshina, a president at Chargeback Gurus.

Fraud 73
article thumbnail

Ex-Microsoft Australia CEO To Take Xero Founder’s Place

PYMNTS

Rod Drury, founder and CEO of New Zealand small and medium-sized business (SMB) accounting company Xero, is stepping down from the position, according to Sunday (Mar. 4) ZDNet reports. Microsoft Australia CEO Steve Vamos will take Drury’s place next month. Drury founded Xero 11 years ago, and Vamos has been preparing to take on the role for the last 18 months.

Community 122
article thumbnail

The startup that's digitizing the Windy City

Payments Source

Chicago's government agencies are a mess of disconnected legacy systems that smacks of old-school municipal malaise and revenue loss as people trek to midcentury government facilities and wait in line to pay.

Chicago 63
article thumbnail

Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

article thumbnail

Happay Lands HDFC Partnership For Expense Management Services

PYMNTS

Happay , a business expense management company based in India, has landed a partnership with HDFC Bank , reports in Business Standard said on Monday (March 5). The company will link HDFC small business (SMB) customers to its travel and expense management solution, which is tied to a prepaid card. The tool enables entrepreneurs to manage employee spend while on business trips.

article thumbnail

Coinbase accused of cheating consumers in more ways than one

Payments Source

Coinbase Inc. was slapped with a pair of lawsuits by disgruntled consumers, one alleging insider trading by employees at the giant digital currency exchange and the other accusing the company of failing to deliver cryptocurrencies to people who didn’t have accounts.

article thumbnail

Market For Distributed Farms That Grow Popular Fungi ‘Mushrooms’ In New York

PYMNTS

In the Big Apple, where space is at a premium, it’s not easy to grow farm fresh produce. As a result, most produce that ends up on a diner’s plate there comes in refrigerated trucks from a farm far away. It’s an ecological nightmare with all the energy needed to fuel the trucks — and the produce doesn’t always arrive in grocery stores or city restaurants all that fresh, after all.

New York 122
article thumbnail

Comdata, Noventis team on digital supplier payments

Payments Source

Comdata, a major issuer of fuel cards in North America, has established a partnership with payments processor Noventis to expand the range of Comdata’s suppliers that can accept payments through virtual cards to further reduce reliance on paper checks.

article thumbnail

2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.